Yea, right.......

In order to lose you have to have an opponent that has credibility. Bachman, Perry, Romney ain't got it.

However, if the economy continues to tank, one of these people  wins because pissed off people wont take "it's all Bush's fault".

Obama will lose, and it won't be close | Washington Times Communities

SALT LAKE CITY, August 16, 2011—Many on the Left claim to think that President Obama will be handily re-elected. Commentators who are reliable cheerleaders for Democrats, such as Lawrence O’Donnell and Peter Beinart, have publicly declared their faith in the president’s re-election prospects.

Hillary Clinton said a few months ago that she was “confident” of Obama’s re-election, while Nancy Pelosi guaranteed it.

Most Democrats, however, merely fall back on the standard prognostication that Obama will eke out a close election, like a coach telling his team that things aren’t that bad during halftime of a game in which they find themselves behind … big.

Obama will lose re-election, and it won’t be close.
Change is coming.

Change is coming.

First, look at the electoral map, which settled in favor of the president, 365 – 173 in 2008, an impressive win indeed.

But the map is different now. Obama will not win any state that John McCain won; it’s just not that kind of environment. Those states gained six votes in census-year reapportionment.

Then there are almost certain losses for the president—states (and their votes) he won last time that will not swing for a liberal democrat who now has a record to defend: Iowa (6), Ohio (18), Indiana (11), Virginia (13), North Carolina (15), Nevada (6), New Mexico (5), and Florida (29). Those states have 103 electoral votes between them.

It ain't over til it's over....

Remember my 20 thousand for everybody? Listen to this whole show and tell me what you think.

There is no limit on the government, who gave 20 trillion to the gangsters who got us into this mess, from sending you and I a big check.

The only stopper is the government isn't serious about correcting this mess.

P.s I expect another 3 or 4 hundred coming to keep us quiet as the Feds give trillions more to their owners who control the election process!

Crisis is Not Behind Us. You ain't seen nothing yet!

There is no real difference between Republicans and Democrats...

Everyone in politics has someone to support. That's how you get power. Just hire out to one 'special interest' or another.

Stimulus thinking: Adventures in tea-party cognitive dissonance | The Economist

But what's amazing here, obviously, is that Mr Phillips is justifying building aircraft carriers because government spending creates jobs and stimulates the economy. And he's right about that! But it seems that there are no other things the government spends money on, apart from defence, that Mr Phillips believes can stimulate the economy. He appears to believe that while government spending on aircraft carriers leads to workers getting hired, spending their paychecks, and helping the recovery, government spending on highways, high-speed rail, education, and health care does not. Meanwhile, Mr Phillips also believes, as he argued in a Washington Post op-ed last week, that the government shouldn't borrow any more money, because that's leading us to economic ruin, like Greece. And he believes that the government shouldn't raise taxes, because that kills jobs. So where is the money supposed to come from? We're left with one possibility: Mr Phillips believes that we should build more aircraft carriers to stimulate the economy, and fund it by cutting other government spending programmes. But obviously when you cut other government spending programmes, the people who were working for those programmes lose their jobs, stop receiving paychecks, and stop spending money, which harms the recovery. And then there's the question of how many $2.6m prostitute-safe-drinking programmes you can find to cut. You need 3,500 of them to fund your $9 billion aircraft carrier.

The tea-party movement has spent the past year arguing that stimulus doesn't work and cannot, by nature, create more jobs or economic activity. The idea that a major tea-party figure can turn around and make a bog-standard argument for defence spending on Keynesian grounds testifies to a startling capacity for cognitive dissonance. I'm impressed. And just to make it clear: I believe that it is absolutely worthwhile to explore whether Chinese prostitutes would be less likely to contract HIV if they learned some techniques and habits to avoid becoming drunk in encounters with clients, and I have every confidence that the money for the programme Mr Phillips attacks was awarded in a proper merit-based fashion.

Hey,it worked for Hoover....

Of course, he got his ass kicked for destroying the economy! Read the whole thing about balancing the the budget in'32 and you'll see the results.

Not a great plan when the economy is in the toilet!

Herbert Hoover: Statement on Efforts to Balance the Budget

THE PRESIDENT said:

"The whole of the administrative officials are cooperating with the special Economy Committee appointed by the House of Representatives in the drive to bring about further drastic economies in Federal expenditure.

"You will recollect that the budget sent to Congress represented reductions in expenditures for the next fiscal year of about $365 million below the present fiscal year. The House Appropriations Committee has reduced the amounts of bills so far reported out by about $112 million. Of this, however, between 60 and 70 million is a deferment until Congress meets next December when they will be compelled to meet positive obligations by deficiency bills. To this extent, therefore, the reductions do not help next year's expenditures.

"In order to meet the requirements of the Ways and Means Committee that expenditures must be reduced by $125 million in order to balance the budget, it is necessary that further cuts be made. There is very little room left for reductions by administrative action and the House Appropriations Committee has passed upon the major supply bills except the Army and Navy. Further economies must be brought about by authorization of Congress, either by reorganization of the Federal machinery or change in the legal requirements as to expenditure by the various services.

Want a reason for high prices?.....

Watch the price of oil! Scam artists taking advantage of Oba mama's failure of leadership and Republicans kicking his ass.

Stock market crazy? Trillions of dollars are sloshing around the globe looking for safety or profits. Bonds selling like hotcakes? The safety net for the big boys because:

The US can never go bankrupt and can pay everybody back their money!

In the mean time, Oba mama wants to raise taxes on the big boys and the Republicans want to slash government spending killing the economy!

Mike Norman Economics: Why are you paying more for gas? Speculators from Bill Gates to the Yale endowment are buying oil futures

Why are you paying more for gas? Speculators from Bill Gates to the Yale endowment are buying oil futures


What a joke. As people struggle to pay their bills and put food on their table we allow rich individuals and university endowments to buy oil futures, adding to upward price pressures. Meanwhile, nothing is done. Then, when people demand to know why this is happening, they are given bogus excuses about China and not allowing offshore drilling.


"A range of investors were in the market, too. Yale University, Singapore's government, hedge funds Brevan Howard and D.E. Shaw & Co., as well as pension funds for Texas teachers and Danish workers all held positions, according to the list.

Also featured were a handful of individuals, including Aubrey McClendon, chief executive of Chesapeake Energy Corp. (CHK - News), one of the nation's largest producers of natural gas. Cascade Investment LLC, the investment arm for Microsoft Corp. (MSFT - News) co-founder Bill Gates, appeared."

Next time someone talks about digging holes....

And hiring people to fill them and sneers about it on some TV talk show, just ask yourself, what is this guy on your set doing that's so productive?

Think we should ask these people...You go on TV and talk to other people on TV and just what did you do for the economy?

They pay these people to do what?

My point is, if the government paid me to dig holes then paid my brother to fill them isn't that  actually the same thing as paying people to talk on TV! Except for the source of the payer, of course.

These people create nothing tangible for the economy.

Except lie and scare the Hell out of people who know nothing about how our economy works because they all went to public schools and learned all about football and cheer leading but nothing much real or tangible.

And you wonder how we end up with the clowns and gangsters in government office?

Hire somebody and get the Hell out of the way is much more productive then balancing budgets during a DEPRESSION!

Ain't religion wonderful.....

And I thought that you couldn't eat animals with cloven hoofs was weird.

Restaurant Can Be Sued For Serving Meat To Vegetarians

On August 10th, 2009, 16 people in Edison, NJ ordered vegetarian samosas from Moghul Express, an Indian restaurant on the town's almost-exclusively-Indian Oak Tree Road. The customers were devout Hindus. They did not eat meat for religious reasons, so they made sure to ask Moghul Express several times whether the samosas had meat in them. The person taking their order told them Moghul Express didn't even make meat samosas, according to the Star-Ledger. They ate some of the samosas, which tasted of meat. They again asked whether the samosas were vegetarian—but this time, they were told that the samosa contained meat.

They decided to sue for emotional and monetary damages. The plaintiffs claimed that eating meat had caused them serious spiritual harm, which could only be rectified by an expensive pilgrimage to the Ganges River. They asked Moghul Express to pay for the trip. At first, the courts told them that the suit was inadmissible. They appealed.

On Monday, a New Jersey Appellate Court decided to allow the suit to go forward. This does not mean that the suit will be successful. It just means that the three-person Superior Court found that the plaintiff's case met the basic prima facie qualifications for it to proceed.

The most famous such case, in which vegetarian groups sued McDonald's for including beef in its french fries, allegedly ended in a multi-million-dollar settlement.

It's all politics...

get rid of Oba mama and the Dems in Congress. The owners of our government have made up their minds.

Mike Norman Economics: Stop listening to all the propaganda about the debt. It's WRONG!

Thursday, August 11, 2011
Stop listening to all the propaganda about the debt. It's WRONG!


In 2008 the deficit was $450 bln and the national debt was $9 trillion. The dollar index hit a low of 70.68.

This year the deficit is forecast to hit $1.6 trillion and the national debt is $14.5 trillion. The dollar index is at 74.57. THE DOLLAR WENT UP!!!!!!!!!!!

The growth of the debt/deficit had ZERO impact on the dollar. It went UP!
Interest rates on 10 year Treasuries went from 4.0% then, to 2.1% now!

Stop listening to the propaganda about the debt. The facts above PROVE that all the hysteria is WRONG. The growth in the debt is NOT inflationary, it’s NOT debasing the dollar, it’s NOT causing interest rates to skyrocket. All of that IS bulls—t!!!!!

How are National debt is financed.....

These two  graphs are all the proof you need that the taxpayer or our grand children are not on the hook for trillions. Also, notice that foreigners own about 4 trillion and Americans own 8. (Though dated 2009, the numbers are about the same percentages in fiscal 2011.)

The most interesting thing is people are terrified that the Chinese or oil countries will quit buying or sell off their holdings.

Let's say China did. And we quit buying their junk. The Chinese people lose their jobs, starve, riot and murder all the idiots in charge of the Commie government.

Period.

Makes me wonder where all the geniuses in our country believe that anyone could live without our trade!

No trade no dollars no buy stuff from us including debt. Pretty simple. Dollars belong to the sovereign entity. The good old U.S.A

So, quit trading with foreign nations and a third of our debt disappears because these broke dicks wouldn't have an economy and are proof positive they can't live without us!

And' baby, wouldn't many of them want to!

World peace, as far as the major players are concerned, is happening making major war amongst us unlikely.

The secret was giving these countries capitalism and an economic Empire to manage the money and protect the players from assault from outsiders.

That's the rationale for "free trade." Make the world safe for democracy!

But now the system is in a mess because of politics. Politicians have to stay in power so they give money and loans to "special interests", military readiness, social engineering and,  of course,the down trodden.

But we decided to continue spending like drunken Democrats in a whorehouse during boom times and the increase of the debt scared the b' Jesus out of the fiscally prudent among us and they want it stopped!

Unfortunately, stopping during a depression is not going to help the economy because all government spending is someone's paycheck. And this income goes right back into the economy by these people paying their bills and feeding their families. That being the case, it enters the market place and many of us get our hands on it and buy U.S debt for our old age.

And I like to point out that it's our money! Every dime. We will get it back and spend it again if we still have jobs!

And, surprise, cutting paychecks in a depression is nuts!!!

Sold the 5th wheel...

I decided it was to old for my retirement so $4500 for a camper that I got for a few bucks in repairs ain't bad!

Just what part of SS Insurance don't you understand?....

Social Security is no more than any other insurance policy and pays for it self through our working lifetimes. If you buy life insurance and die your heirs get paid. Same with disability. But Social Security pays you for surviving and paying in for a lifetime and belongs to you.

Cutting it is a crime. Depriving the next generation of benefits would be akin to stealing someone's life insurance.

No more talk from Washington on "reforming" Social Security as it doesn't belong to Washington but to we the people.

This conservative would become a Democrat and go after anyone stealing this insurance from the working stiff as the gang in Washington already stole our decent paying jobs and sent them to China, Mexico or bum fuck Asia somewhere!

And investing in the stock market is as about doable as buying lottery tickets for the average wage earner! Who in the Hell has enough money left over to give to these gangsters, anyways.

Want to balance the budget in Washington?

Fire them all that got us into this Depression and send us the money they've been stealing to give all the ass kissers who buy their vote in Congress!

Are we having fun on Wall Street or what?

As soon as Oba mama quits blowing up the Middle East our oil supply will stabilize and so will our economy.

If there is one left, that is!

Early Warning: Note on Unemployment Claims

Calculated Risk just posted the weekly unemployment claims. I note the form of the bump up this year is entirely consistent with the view that the economy's main H1 problem was a mild oil shock beginning in about Feb/March with the sudden withdrawal of Libyan oil from the global economy. Note that the slight elevation in new claims has been declining in recent weeks - just as global oil supply has been growing again. In particular the advance figure for last week was 395,000. Thus the recent stock market declines do not seem to have led to any increase in US layoffs, at least not so far.

As long as there is no new banking crisis, I don't see why the US economy is about to enter recession.

Our housing market is coming back....

Houses are selling. Even with 12% unemployment. Remains to be seen if it continues so I'm going to get qualified for a bargain or two. I missed a couple of repos this year because I borrowed for my truck and 5th wheel securing my retirement plans.

 May have to find a few rentals to pay the bills while I go fishing in my old age. LOL.

And I also tell anyone who will listen, you only have to watch the price of oil. It goes up the economy collapses, when the price goes down, boom coming.

Sounds incredible when your in a crash but it is inevitable as trillions of dollars have to come home and people can't wait to get their hands on it.

If we would have stimulated the demand side in the first place, (consumers), instead of the supply side, (crooked banks and Wall Street gangs,) this would have been a nasty recession instead of a depression.

I contend that it was the oil spike taking billions of dollars out of broke dicks that crashed our system just like in the seventies under clueless Jimmy Carter.

Now we are stuck with hapless but "articulate" Oba mama.

But it now looks like that even Carter could beat him next year!

Economist call it "Paradox of Thrift"......

If everyone contracts in spending the economy collapses. Especially when governments tightens their belts thousands lose there jobs. And if you raise interest rates millions can't qualify for loans.

Another way of saying if we all stop our spending we all go broke because we all buy and sell to each other and are interdependent. My spending is someone's pay check and vice versa. Same with government spending. That being said we can only cut back these expenditures during an economic boom slowing the resulting bubble not during economic collapses.

I like budget balancing as much as the next guy but you can't cut off your nose to spite your face.

What should the government  do now?

Send everyone on the tax rolls a big check! We are collectively broke. Trillions of household wealth has been lost and our economy is in limbo as the government is trying to stimulate the supply side of our economy by loading up the banking reserves. These fuckers got all the money now and can't pass it around because we are broke and to many people lost their credit rating and couldn't borrow it if their lives depended on it!

You need an income in our world or you live under a bridge bumming change! Currently, most people are barely getting by as we exported our middle class to the Commies and Mexicans and we no longer have a high spending middle class.

P.s the crashing stock market is telling the Fed to give them more handouts so they can continue buying politicians and paying the gangsters in charge big bonuses.

He will!

We need some leadership in Washington to put an end to it but we ain't going to get it for awhile!

I remember calling for a tax holiday...

Need to boost the economy? Bring the money home!  It's all locked up in corporate accounts overseas.

It looks like Oba mama is in pissing contest with the owners of the government and he ain't winning!

Pretty soon everybody will roll over and it will be business as usual.
You can't beat these guys because they have all the money. Hey, ask yourself, did any of these bastards lose a dime, their jobs  or go to prison for this mess we are in?

Need more convincing?

My post on neweconomicsperspectives.blogspot.com

The most interesting phenomena is Canadians invading the U.S and stripping the shelves of our retailers. I see a thousands pour in to Walmart 60 miles from the B.C - Idaho border and stock up on cigs, booze, breakfast cereal and anything else they can get their hands on.

I'm told the reason is that their buck is worth $1.07 and they see everything here at a big discount from what they pay at home.

Will other countries flood us tourists loaded with our money and ignite a boom?

They have to spend it somewhere!

Just what is this defict talk all about?.....

Politics!

We have to remember that the question is really about how much government do we want and who rules.

Our Congress appropriates the monies it decides we need to fund government services and then BORROWS the money to do it. This is what the "budget ceiling " controversy is all about. And they are all ready to start over.

Notice this has nothing to do with taxes other than the government has to have some to be able to borrow as no one would lend the government much if it didn't have an income.

In other words, we raise or lower taxes for political reasons (balancing the budget, save the world, punish the rich, funding green religions, discouraging socially acceptable behaviour, killing little brown people around the world, etc) not that the government needs the taxes to pay debts, as proven by almost a hundred years of deficit spending. yes, with an expanding economy we can borrow forever! Just pay the interest with new taxes that roll in. (and no, the rich are doing just fine, so screw them!)

When I point this out I'm told that we don't want our government to do all that stuff, I simply counter with that's what we voted for! And everybody needs to get paid. That's where all government spending ends up.

In pay checks!

So, my question, still unanswered, is just what good does it do for your local economy,  to lay off a teacher, a fireman,a soldier, a government lawyer, thousands government construction workers and millions of other government workers, hmm!

Still want to cut government spending during a depression?

How do we balance the budget?...

Fire all government employees who actually do something and quit giving all those checks to old geezers and vets. Stop all world trade and find a rock to climb under.  Outlaw Walmart. Pull the plug on the "evil " Pentagon.

Hey, you have to admit it would be exciting!

Duncan Black Reminds Us That Governments Have Eliminated Half a Million Public Sector Jobs since July 2009...

Duncan Black Reminds Us That Governments Have Eliminated Half a Million Public Sector Jobs since July 2009...

Profoundly stupid. Stupid. Stupid. Stupid. Stupid. Stupid. Stupid. Stupid. STUPID!!

When financial markets are desperate for the safe financial assets created when a credit-worthy government hires people and borrows to pay them, when the unemployed are desperate for jobs, and when lots of useful things the government can make and do are left unmade and undone...

Borrowing during a Depression....

Cash is king but it doesn't have to be your cash. Get your finances in order then borrow to beat the band. Remember in the long run we are all dead!

Sounds, and is counter-intuitive, but money  is practically free right now. I'm buying used vehicles, like new, for 3.9%. House loans are under 5% if your interested. Plenty of opportunities will present themselves as soon as the Democrats takeover Congress because the Repubs threaten to destroy Social Security and Medicare and someone has to jump start the economy.

Then the jobs programs begin flooding the household economy with liquidity which is exactly what I have been bitching about:

WE are broke as a whole. Most people are not working and spending. Either you don't  have an adequate income or your credit is shot and you can't buy shit is still what's killing the economy.

Until the rest of the private debt is resolved expect more of the same. And broke dicks can't pay off debts as it is let alone borrow more.

One easy fix:

Send everyone on the FICA tax rolls a check for 20 thousand or so and we'll take care of that political problem!

P.s only one company on Wall Street is making huge money right now. Their secret they have been debt-free for almost 9 years and spend most of their money on R&D. During the boom they quit borrowing and are having no problem making money. Apple!

But the average household borrowed many times their net worth and then lost everything during the bust. Does this sound like Keynesian theory to you.

Simple econ 101. Something that the gang in Wahington has ignored at our peril!

Ms Market Offers the U.S. Government Free Money for Ten Years...

Ms Market Offers the U.S. Government Free Money for Ten Years...

The FT reports:

Global growth fears push gold to new record: "The 10-year US bond yield is down 9 basis points to an eight-month low of 2.66 per cent – the first time it has broken 2.70 per cent this year – while short-term yields are near record lows as the Federal Reserve is seen staying “lower for longer”."

If anyone were offering my family money at 2.66% nominal for ten years, I can tell you that we would be borrowing big time and investing...

Where are the jobs?...

Why is more than one out of ten adults in this country sitting on their asses watching American Idol and not working? And why all this bull about budget deficits when everybody on the planet knows it's all a crock to keep the tea party  voting Republican!

The government brings in 175 billion a month or so and pays out 23 billion a month in interest. (These numbers are bouncing around in the ball park)

You and I should be so lucky have the governments debt problem!

We can pay our debts and still have plenty of money left over to kill plenty of  brown people who don't like Jesus.

Oh yea, Social Security. Oba mama knows better that the trust fund is financed directly by our payroll taxes and  has enough coming in to pay our checks for at 25 more years!

Not that they need to tax us for it! If taxing us for it was so necessary why not tax us directly for wars with a "war trust fund"? Hmm.

Might even get a few billion voluntary contributions from skinheads, lol!

Why we don't use gold as money....

Why would anyone buy gold?

Why would anyone buy a Van Gogh? Or race horse, dumpy houses, diamond,etc?

Gold is an ancient commodity that holds some value throughout history. It's advantage is that it can be converted into any sovereign currency so, like the American dollar, it "travels" well unlike most anything else used as money, except, perhaps, precious gems.

Unfortunately for many, gold is a long term investment as there are sales commissions involved in the conversion upon sale so it's conversion to a currency is at a loss.

So the caveat about using commodities as a money for our system is that it's difficult to make a short term profit on it. Which is to say, unlike a currency which can be lent out literally overnight at a profit and receiving the return of your principal, we have no way maintaining a lender of last resort to protect the system during crashes and panics....

Hell, no one even trust the U.S that it has it's gold supply on hand let alone the gangsters on Wall Street. Can you imagine giving these guys our money supply if it was in physical gold?

And best of all, when the gold miners go on strike or
run out of reserves, everybody starves or murders the "rich who have all that gold" as the economy collapses destroying the system.

So the next time Ron Paul, a great guy by the way, ask if gold is money, thank your favorite deity it isn't because during panics and crashes the government pushes a few
key strokes and we have our money back maintaining a minimum stability until the crisis subsides.

And besides, can you see all these
"corporate jet owners" and "union bosses" lugging all of that gold to bribe the gang in Washington.

Wait, on second thought, that might not be a bad idea!

Want to save healthcare?....

Put everyone on the Social Security list on Medicare and quit the budget deficit bull. If there's fraud in the system, round up the perpetrators and execute a couple.

Problem solved. No new bureaucracy. No new taxes just collect Medicare tax as usual. Want to soak the rich for more make all these taxes on all income, period! 

New Economic Perspectives: L. Randall Wray

From Wall Street's perspective, if government finance were truly understood, there would be little room left for the "financialization" that Goldman Sachs and others have been promoting. Securitization of mortgages and of other consumer debt is superfluous. Private pensions managed by Wall Street are unneeded--Social Security is safe and can be expanded as desired to provide decent and secure pensions. Health care insurance does not need to be reformed or expanded, instead, it needs to be eliminated and replaced by a single payer system. Government does not need to beg or bribe finance to fund efforts by entrepreneurs to create jobs because a federal job guarantee program can ensure continuous full employment. And Wall Street does not need to choose our candidates for us, as voters are perfectly capable of electing representatives of their interests. In short, it is difficult to conceive of any positive role for outsized finance to play.

Lest anyone think that I am advocating a bigger government, I want to make clear that I am actually arguing for less government intervention into the economy. The market wants to eliminate the biggest financial institutions. I think the market is correct. It wants to get rid of the riskiest financial instruments, such as credit default swaps and securitization. The market is correct on that score. The market would eliminate bonuses for Wall Street traders and CEOs—only Bernanke and Geithner stand in the way, providing government bail-outs that fund the outrageous rewards paid to the crooks and fools that created the crisis. The market would wipe out the mortgage debts of underwater homeowners—it is only the inducements provided by government that keep the mortgage servicers and first and second lien vampires afloat so that they can suck some more blood. And no rational market would have developed private employer-based pension plans or use of employment-related insurance as the dominant method of providing healthcare services. Both of these anomalies were created by partnerships of Government and Wall Street acting against the interests of the vast majority of Americans. I believe that we can have decent and rationalized retirements, health care, and jobs programs without increasing the size of government.

Trouble in Paradise?....

Am I psychic or what? No cuts no new taxes lol; Unless you count the 4 billion the first year. (read that again as it's not a typo.)

 Repeat after me: the government has been bought by the guys who got us into this mess and are taking home multimillion pay checks. All the "cuts"would come out of their pockets because that's pretty much where the money is. And they own the politicians in Washington! Ta da!

Rocket science, right?

But , as I've been trying to explain, budget cutting during a Depression is nuts! Let alone taxing me and you because rich people, unless goofy, pass taxes down by raising prices or cutting employment and we get it in the ass.

In the 80's Reagan cut out a little waste and gave everybody a tax cut and got us out of a severe recession and ran the largest budget deficits in history! Then we didn't have our middle class jobs "outsourced" overseas. Today we don't make much and there is little capacity to put all those government educated kids to work at any thing like a real wage.

Does anyone in this country believe that our high school grads, let alone drop outs, can compete with illegal Mexican labor and contribute to the economy and pay our Social security?

Don't expect the deal in Washington to do anything but prolong the disaster.

Of course, it's all Bush's fault!!!

P.s where did the 15 to 20 trillion in stimulus go? Let alone where in the Hell is your home equity disappeared to? Who got the money? And what the fuck does my Social Security check have to do with it!!!!!!!!



Demand Side Blog: L. Randall Wray asks “How long until the fall of orthodox macro?”

And, boy-oh-boy have we got a Big Bank and a Big Government! Together, the Benny and Timmy tag team have spent, lent, or guaranteed $25 trillion in the name of Uncle Sam. And that still is not enough. “It” is still happening.

The problem is that most of this was done by the Big Bank Fed, aimed at helping financial institutions—trying to prop up their worthless assets. In short, it was based on the theory that we need Money Manager capitalism and that the only hope is to generate another bubble.

It won’t work. Financialization is the problem, not a sustainable economic strategy. We need to turn instead to an updated Keynesian-Minskian New Deal based on jobs, growing wages, consumption—especially public consumption, constrained and downsized finance, and greater equality. Monetary policy also has to be downsized, while fiscal policy has to play a bigger role. Not fine-tuning but a positive and permanent presence to counter and guide and supplement the private purpose.

More importantly we’ve got to formulate theory applicable to the world in which we actually live—not one in which imaginary representative agents allocate resources along an optimal consumption path.

If you get a pay cut how can you pay your bills?....

Cutting the government during a depression is exactly that. Want to save the system? Give every working stiff a big check and they will take care of it instead of firing people that were hired to do the government's dirty work.

How do we pay for it?

Rob the cock suckers on Wall Street, Bubba!

I know, I know, they paid enough to our elected officials that that's not going to happen, so sell some bonds and send me 20 thousand or so and I'll stimulate the economy.

How about you?

Can someone call the leaders in Washington and tell them the working stiff is broke from all the screwing going on and left unpunished and so we couldn't buy enough houses or cars to restart the economy.

But for the most part, these guys are safe because their is no alternative to turn to.

Republicans believe if only we  cut enough we will reach Nirvana on Earth even if they have to drag the Democrats kicking and screaming into bliss.

Yea, right!

The Democrats believe they can borrow enough to do the same if onlt the Republicans weren't such tight asses, sure, uh huh!

See a problem in getting anything done!

I'll publish more on this because the nuts are loose in Washington because slash and burn the budget means millions of checks are slashed. Million of workers, give or take, get a government pay check for simply doing what they were hired to do.Millions more get their check for services rendered for years of faithful services and more millions are simply collecting insurance money from the Social security trust fund .

Someone call them up and see if they are willing to go belly up to protect Obama's buddies on Wall Street and the crooked bankers who got us into this mess by lending huge sums of borrowed money to broke dicks who were a minimum wage paycheck from moving under a bridge?

I'll admit because these fools voted for him they might deserve the ass kicking but I'm innocent so leave me the fuck out of it!

Remember one thing about government spending:

Every dime of government spending is someone's car, boat, rent or mortgage payment, food, clothing, and everything else we spend money on!

And that money ripples through the economy creates demand in our banking system which creates jobs for guys like me at places like Walmart because every dime in our banking system is paid out on demand then spent on pay rolls and that in turn gets spent and put back into the banking system creating more demand and jobs.

After that all this money ends up as a federal tax for millions of people and the Federal government gets it all back through the IRS and pays off it's bonds starting the cycle over again.

The secret is that the government can borrow all it needs, as authorized by both houses of Congress and signed by the President, no matter how large, because it can always sell bonds that it can create out of thin air because these bonds are  guaranteed by our income taxes.

Think about it.

If you need more information on how our system works go here.

You will hear a lot of crap from Washington......

But budget deficits are an accounting gimmick! Reducing the size of government simply means quit voting for more programs and giving more money to people who bribe the politicians. Our empire is with us for ever and cutting anything that exists is politically impossible because the government can print, borrow, tax, or steal all the money it will ever need to finance anything voted upon.

And the gang in Washington knows it.

Yes, our government has an unlimited line of credit and those of us who don't like it vote for people to stop the corruption and it hasn't worked. That's why millions of people all jump on the bandwagon of reducing the deficit.

The empire can't be stopped! Everyone is either been bought off to go along or scared shit less of losing their checks.

 And every deficit cut is someone losing their check! So,is their a solution to  solving the problem. Only if the economy grows. The world economy that is. That's where the wealth is being created and taxed to pay for our life styles.

Hey, it's not my fault we shipped our jobs over seas! But I've been bitching about it for years but the gang in that owns our government insist.

And they rule!

New Economic Perspectives: Pinch-Hitting for Peterson. Part 2: How Progressives Helped Stoke Deficit Hysteria; A Case Study

The reality is, as all those reading this blog know well, a sovereign government is never financially constrained in its own currency. Government spends by keystrokes. It can stroke keys to pay interest and as well stroke keys to undertake any progressive spending policies EPI proposes. And it still has “room” to stroke keys for bailouts. There is no affordability tradeoff. What matters is inflation—too much government spending drives the economy to the inflation barrier. And real resource use: a government that takes too many resources for its use (hopefully, to serve the public purpose) leaves too few for the private sector. But that requires full capacity use—otherwise at most you get bottlenecks.

Further, as all readers here know, the interest rate is a policy variable. The central bank chooses the overnight interest rate; the short maturity government bill rate tracks that closely since bills are close substitutes for bank reserves. Other rates are more complexly determined. Government bills and bonds are interest-earning alternatives to the rates paid on reserves by the central bank. Let us say that government decides it wants to spend less on interest on longer maturity bonds. Easy enough: stop issuing them. Facing a drought of longer maturity bonds, markets will bid up their prices and rates will fall. Government can stay in the short end of the market as long as it wants; indeed, it can stop issuing even bills and just pay 25 basis points on reserves (as it now does). Yes, this requires a change from current operating procedure. I won’t go through this now as NEP has provided ample analysis of operating procedures and the simple changes that would lead to an era of zero government debt (as conventionally measured, since reserves and currency are not counted).

Same old thing in Washington...

Boner's plan is to cut 91 billion a year. Out of 1700 billion a year in deficit spending.

I think there will be a whole bunch of new people in office next year. But Oba mama will still be president because who's  going to vote for Republican liars.

Remember daddy Bush saying "read my lips" ? And how did that work out for him?

Toast!

Another incisive read on deficits...

Broke dicks can't pay their bills let alone pay their fair share of taxes. Broke dicks need jobs above minimum wage, way above, to pay their way through life.

It ain't happening! We gave our middle class to foreign countries to make them like us and the working stiff is paying for it.

yes, I know they also voted for it!

The Trade Deficit is the Most Important Deficit » New Deal 2.0

Closing the budget gap will require a progressive industrial policy, not regressive spending cuts.

Between 1962 and 2009, the cumulative trade deficit of the United States almost exactly equaled the cumulative Federal budget deficit: 7,426 billion for the budget deficit, a couple of billion less for the trade deficit. That is, when you add up all the deficit numbers for those 28 years, both the trade deficits and the budget deficits have generated the same amount of red ink. The Republican House members, in particular, use fear-mongering to convince the public that the federal budget deficit is going to destroy the economy. But what about the trade deficit?

As Marshall Auerback and others have been arguing, focusing on cutting the federal budget deficit during an economic downturn can harm the economy, putting people out of work, for one thing. Our government discovered this in 1937, when a push to balance the budget led to a mini-Depression. But tanking the economy is exactly what is being discussed in Washington; every alternative on the table involves cutting spending, which will cut jobs, which will lead to even less revenues for the government, bigger deficits, and even more job losses.

These guys never quit...

They are just Democrat party operatives and flunkies. Same with the "help the homeless", down with the WTO movement, gun control nuts, global warming nut jobs,oil company conspiracy wackos or any other left wing cause celeb.

Hey, these people have to make a living, don't they?

Not on my nickel !

But wait in  afew years we'll have another Republican in office and these fruit cakes will have jobs again and watch them go into action.

The Left’s Antiwar Movement in Monterey: Down but Not Out by David R. Henderson -- Antiwar.com

There’s no doubt that antiwar activism among the left has declined substantially since Barack Obama became president. That has led many people to claim that the apparent antiwar views of many on the left were not so much antiwar as anti-Bush. I’m sure that there’s something to that, but there’s also a more nuanced explanation. Many on the left probably are still very antiwar, but the fact that they identify with President Obama makes it hard for them to criticize his actions. One of the easiest things to do is oppose a particular policy when you detest both the policy and the policymaker; it’s harder for most people to vocally oppose a policy they don’t like when they like the policymaker.

Yet my own impression of antiwar activism in Monterey County, where I live, is that although it has fallen off since the Bush years, there is still a lot of antiwar sentiment among the antiwar leftists who were so vocal during the Bush years. I gave Exhibit A for my case two years ago in “A Coalition’s Progress: Monterey’s Anti-Afghan War Demonstration.” In that article, I documented how successful the libertarian/left coalition had been at organizing a well-attended October 2009 demonstration against Barack Obama’s favorite war: the one in Afghanistan. Exhibit B is the positive reaction of two prominent local antiwar leftists to my letter published in the Monterey Herald last week.

As I've been predicting....

All those trillions will come home and we boom! Until the next crash of course. Why should the people who make the economy run give it to Washington to waste on their constituents in order to get and stay in office?

The government makes it very difficult to do business in this country unless you buy enough politicians. What surprises me is so many put up with doing business with these nitwits in D.C.

Corporate Tax Holiday in Debt Ceiling Deal: Where's the Uproar? | Rolling Stone Politics | Taibblog | Matt Taibbi on Politics and the Economy

Have been meaning to write about this, but I’m increasingly amazed at the overall lack of an uproar about the possibility of the government approving another corporate tax repatriation holiday.

I’ve been in and out of DC a few times in recent weeks and one thing I keep hearing is that there is a growing, and real, possibility that a second “one-time tax holiday” will be approved for corporations as part of whatever sordid deal emerges from the debt-ceiling negotiations.

I passed it off as a bad joke when I first saw news of this a few weeks ago, when it was reported that Wall Street whipping boy Chuck Schumer was seriously considering the idea. Then I read later on that other Senators were jumping on the bandwagon, including North Carolina’s Kay Hagan.

This is what Hagan’s spokesperson said:

Goodluck on this plan.....

Not a whole lot of money extra but keeping the service below 10 bucks kept millions of people watching instead of using alternatives. People are lazy and get set in their ways. Screw them over for a couple of bucks and the head for the tall grass.

Simple solution:

Add a app called Boxee, HDMI cable and a wireless mouse and keyboard to an old desktop and connect to a HD TV and watch yourself silly!

Oh yea, at no extra cost or logins, fees, price increases, etc.

Netflix changes reflect evolving market - Washington Times

Netflix changes reflect evolving market
Users see move phasing out DVDs
8 Comments and 4 Reactions|ShareTweet|Email|Print|
Under a new pricing policy, Netflix customers will have to buy separate plans if they want to rent DVDs by mail and watch video on the Internet. Subscribers will be paying as much as 60 percent more as a result. (Associated Press)Under a new pricing policy, Netflix customers will have to buy separate plans if they want to rent DVDs by mail and watch video on the Internet. Subscribers will be paying as much as 60 percent more as a result. (Associated Press)

By Claire Courchane

-

The Washington Times

8:44 p.m., Thursday, July 21, 2011

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College student Lydia Statz was one of more than 23 million Netflix users who received a jolt when the DVD rental and online streaming company announced major price increases last week.

“They had such a good model going,” said Miss Statz, adding that college students used Netflix because it was cheaper than purchasing cable. “Why ruin it?”

The answer, according to numerous angry customers, is so people would drop the DVD option and Netflix could save money on postage and the famous red envelopes. Instead of unlimited DVDs and unlimited online streaming for $9.99 a month, new customers now must pay $7.99 a month separately for each service. Existing customers must do the same, starting Sept. 1.

Miss Statz is not the only unhappy customer — according to a Mashable.com poll, 38 percent of users claim they will quit using Netflix. Almost 80,000 comments appeared on the company’s Facebook page, ranging from the civil (“Why

I know... You can't make this up!...

Somewhere someone is giving birth to more of these guys!

THEY'RE HERE! 2010 DARWIN AWARDS - You've been waiting for them with bated breath, so without further ado, here are the 2010 Darwin Awards.

After stepping around a marked police patrol car parked at the front door, a man walked into H&J Leather & Firearms intent on robbing the store. The shop was full of customers and a uniformed officer was standing at the counter. Upon seeing the officer, the would-be robber announced a hold-up and fired a few wild shots from a target pistol.

The officer and a clerk promptly returned fire, and several customers also drew their guns and fired. The robber was pronounced dead at the scene by Paramedics. Crime scene investigators located 47 expended cartridge cases in the shop. The subsequent autopsy revealed 23 gunshot wounds. Ballistics identified rounds from 7 different weapons. No one else was hurt.

Need to see more?

As long as these guys get free money from the state they can do this shit. You can't tell me the universities can't find competent help without raising the salaries 100,000 bucks more  a year? Of course, most of the money comes from the state raising taxes and cutting services to the working stiff. But as long as these suckers keep living there they have no one to blame but themselves.

State bankruptcies are easily explained... They are either run by morons or a criminal conspiracy!

College presidents' paychecks raise brows - USATODAY.com

Literally moments after the system's Board of Trustees announced that it was going to increase next fall's tuition by 12 percent, an additional $294 a semester, the board turned around and approved a salary of $400,000 for the new president of San Diego State, Elliot Hirshman -- $350,000 in state funds and $50,000 from the campus's foundation -- a bump of more than $100,000 from what his predecessor made last year. "There's never a good time to raise presidents' pay," said Michael Uhlenkamp, a spokesman for the Cal State system. "But when there are immediate needs, whether taboo or not, we have to fill them."

The question of whether it's appropriate for higher education administrators to be making very large salaries (often in the hundreds of thousands of dollars) is highly contentious, with vocal advocates on each side of the issue. 

Wonder which company is paying for this?.....

 

The Path Not Taken - NYTimes.com

The doctrine in question amounts to the assertion that, in the aftermath of a financial crisis, banks must be bailed out but the general public must pay the price. So a crisis brought on by deregulation becomes a reason to move even further to the right; a time of mass unemployment, instead of spurring public efforts to create jobs, becomes an era of austerity, in which government spending and social programs are slashed. This doctrine was sold both with claims that there was no alternative — that both bailouts and spending cuts were necessary to satisfy financial markets — and with claims that fiscal austerity would actually create jobs. The idea was that spending cuts would make consumers and businesses more confident. And this confidence would supposedly stimulate private spending, more than offsetting the depressing effects of government cutbacks.

Wonder which company is paying for this?.....

There are no coincidences in Washington. Somebody is on the take. How else can we read this and not wonder about the people involved in it?

FDA to Diamond Foods: “Your Walnuts Are Drugs” « LewRockwell.com Blog

Just recently I posted about the Feds crashing a Kansas winery to seize the illegal contraband ("drugs") being produced by the company: elderberry wine. Come to find out that prior to that the FDA had gone after Diamond Foods for its claims that its walnuts are good for overall health. Here is the full letter sent from the FDA to Diamond Foods. A snippet:

Based on claims made on your firm's website, we have determined that your walnut products are promoted for conditions that cause them to be drugs because these products are intended for use in the prevention, mitigation, and treatment of disease.

This part of the FDA letter is predictably curious:

The back of your product label also bears the following statement: "The omega-3 in walnuts can help you get the proper balance of fatty acids your body needs for promoting and maintaining heart health. In fact, according to the Food and Drug Administration, supportive but not conclusive research shows that eating 1.5 oz of walnuts per day, as part of a low saturated fat and low cholesterol diet, and not resulting in increased caloric intake, may reduce the risk of coronary heart disease. Please refer to nutrition information for fat content and other details about the nutritional profile of walnuts." Although FDA exercises enforcement discretion over the last two sentences of this statement, which meet the criteria for a qualified health claim for walnuts and coronary heart disease, the last two sentences read in conjunction with the first sentence makes the entire statement an unauthorized health claim.

An article by William Faloon in Life Extension magazine (he's a co-founder of the foundation) points out that "the FDA has no problem allowing the Frito-Lay® website to state the following" about its "heart healthy" snacks:

“Frito-Lay® snacks start with real farm-grown ingredients. You might be surprised at how much good stuff goes into your favorite snack. Good stuff like potatoes, which naturally contain vitamin C and essential minerals. Or corn, one of the world’s most popular grains, packed with thiamin, vitamin B6, and phosphorous—all necessary for healthy bones, teeth, nerves and muscles.

“And it’s not just the obvious ingredients. Our all-natural sunflower, corn and soybean oils contain good polyunsaturated and monounsaturated fats, which help lower total and LDL ‘bad’ cholesterol and maintain HDL ‘good’ cholesterol levels, which can support a healthy heart. Even salt, when eaten in moderation as part of a balanced diet, is essential for the body.”

You can see it for yourself on the Frito-Lay website. (Thanks to Mickey Propadovich for the tip.) A few years ago, the Life Extension foundation covered the FDA's attack on the cherry industry for stating that the fruit contained beneficial anti-oxidants. Twenty-nine companies were ordered by the FDA to stop making health claims regarding their cherries, otherwise the FDA would designate their cherries as drugs, meaning the FDA would have to raid the warehouses and seize the "untested drugs."

What if.....

Obama and the Dems would have cut a 800 billion tarp bailout and gave me and you 20 grand?

Think he would have been popular?

What about the deficit? Do you seriously think we wouldn't be in the same position?

Except the economy would have boomed again!

Our problem is we are collectively broke. Broke dicks can't or wont buy, save or invest. Once your broke you head for the tall grass and lay low. We then pay off debts, if still working, and recoup our credit status. Then we shop, invest or buy at GM.

Economics 101!

Hey, I'm pretty cute ain't I......

gary has a fish.MOV

Obama has failed to rectify Bush's screwup....

No one has been punished for making this mess in our economy!

Washington's Blog

Robert Shiller - one of the top housing experts in the United States - says that the mortgage fraud is a lot like the fraud which occurred during the Great Depression. As Fortune notes:

Shiller said the danger of foreclosuregate -- the scandal in which it has come to light that the biggest banks have routinely mishandled homeownership documents, putting the legality of foreclosures and related sales in doubt -- is a replay of the 1930s, when Americans lost faith that institutions such as business and government were dealing fairly.

The former chief accountant of the S.E.C., Lynn Turner, told the New York Times that fraud helped cause the Great Depression:

The amount of gimmickry and outright fraud dwarfs any period since the early 1970's, when major accounting scams like Equity Funding surfaced, and the 1920's, when rampant fraud helped cause the crash of 1929 and led to the creation of the S.E.C.

Economist Robert Kuttner writes:

In 1932 through 1934 the Senate Banking Committee, led by its Chief Counsel Ferdinand Pecora, ferreted out the deeper fraud and corruption that led to the Crash of 1929 and the Great Depression.

Similarly, Tom Borgers refers to:

I'm actually speechless.....

And This Man Is the New Secretary of Defense? « LewRockwell.com Blog

Posted by Laurence Vance on July 12, 2011 07:22 PM

Leon Panetta, who was recently confirmed by the Senate to be the new Secretary of Defense, told American troops in Iraq on Monday:

"The reason you guys are here is because of 9/11. The US got attacked and 3,000 human beings got killed because of Al-Qaeda. We've been fighting as a result of that."

Not even George Bush utters that lie anymore.

And what was the Senate vote to confirm Panetta? 100–0.

Somebody has to save the economy....

Mish's Global Economic Trend Analysis: Bernanke Pledges More Monetary Stimulus, Dollar Tanks, Gold Soars to Record High

Federal Reserve Chairman Ben S. Bernanke told Congress the central bank is prepared to take additional action, including buying more government bonds, if the economy appears to be in danger of stalling.

“The possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks might reemerge, implying a need for additional policy support,” Bernanke said in prepared testimony before the House Financial Services Committee in Washington today. “The Federal Reserve remains prepared to respond should economic developments indicate that an adjustment of monetary policy would be appropriate.”

Bernanke acknowledged there are “uncertainties” in both directions -- about the strength of the economic recovery and the prospects for inflation -- over the medium term.

The Fed chief repeated his belief that inflation won’t be a problem for the economy because gasoline and food prices, which had surged earlier this year, are now moderating.

They're firing teachers to balance the budget!....

Talk about desperate!

 Kids are dumb enough now. Maybe we should just shoot our selves and start the country over. Now, state governments budgets are like your household's. Income - outgo must balance. So somebody has to get their ass' kicked when the state governments are in deficit. Let's not forget, government monies fund pay checks. Cut spending you cut someone's pay check.

 Cut someone's pay check and they quit spending at Walmart. And they vote for the other guy!

Most of the state problems stem from the Federal government, who can tax, print or borrow, all the money they need, passing costs for various programs down to the states because of politics. The states then have to borrow money from the Feds to pay for some of these programs if the economy busts. When the bust comes to the economy, and they always do, the states are caught short and have to fire people maximising the down cycle. Hard for the government to cure unemployment if they have to fire the middle class who create most of the jobs with their taxes and consumption of goods and services.

Now we are in the old catch 22. People with jobs spend, borrow and pay taxes to support people who don't! Fire them and all you have left is.....PEOPLE WHO DON'T HAVE JOBS!

I guess it's because few voters and media talking heads have a clue how our system works. Or, more likely, to many people make a living scaring the fuck out of people who don't have a clue how our system works.

Our economy doesn't work like your household. Ours is a sovereign nation , actually a sovereign Empire, and we can print, borrow, or simply confiscate, any U.S dollars we want. If we decide to pay off the National Debt, (an accounting gimmick), we could simply fire up the presses and pass out the cash.

Want to pay Social Security for the next 50 years? No sweat. Need to invade China? Pay 10 million broke dicks a million or so a piece and let 'er rip. Need oil? Borrow 10 times as much and buy it all!

Who's going to stop us? (Not to say we ever would or should) You and I stop this from occurring because we, the people, are sovereign and the guys who rules us are scared shit less of pissing us off if we ever figure it out.

Ours is  the only economy that  rules the planet's resources. Every commodity is delineated in our dollar. Literally every country sells us more than we sell them and this creates surpluses of dollars on their books. All this money has to come home as it is ours. Every country has to buy our shit... stocks, real estate, bonds, etc. or they can't sell us anything because we don't take their money in trade!

We are the sovereigns!

It's amazing that so many people can't figure it out.......  cutting budgets during a bust leads to DEPRESSIONS which is a planet wide phenomenon. You raise taxes and cut government growth only during boom times to slow the economy to a more manageable level.

Bottom line how can firing people who spend their checks in the local economy improve the local economy?

HELLO!

I'm betting he caves.....

The Repubs can't trust Boner! He'll surrender. Let's not forget he was there when Bush and the gang in Washington got the government into this mess.

Did you ever hear him bitch about deficits then?

That's because the public now believes that we are going bankrupt and Congress and the President need to do something about it.

They will!

They'll slow the growth of the Deficit, declare victory and get re-elected! And next election cycle they'll find something else to promise because if the deficit was that important to their survival it would have been fixed a long time ago!

No one who runs our economy will tolerate much if any change in the system. They make billions off our backs for doing nothing but manipulating our money and buying guys like Boner and Oba mama and getting them in office. They pay both Dems and Repubs in the races and always win because they will simply replace these people by financing their opposition in the primaries where most campaign expenditure laws don't apply.

Also,  just check and see how many of these stooges run unopposed or their opponents are broke, stupid, or made to look crazy. Not to say that many of  our elections are fixed to start with.

Just ask newly minted multimillionaire AlGORE!

But more importantly, you can't bankrupt an Empire by the government borrowing it's own money! You only bankrupt a sovereign nation by destroying it's infrastructure. (Germany and Japan are the most famous.)

Besides, if we were in such danger do you think anyone in their right mind would by U.S. bonds at 0% interest? We've sold out every bit of those trillions in debt because our government can always print, kill, steal, tax, sell off their assets and yes, borrow from the oil sheiks.

But it makes for many political careers and sells a lot of copy and TV time. And that's all it's about! Kind of like Jesus' second coming, Alar on your apples, we will all starve by 1975, ice age starting in1980 and ruining our suntans in Florida, rainforest drying up and sending all those rubber plantation workers running amok across our Mexican border, polar bears starving to death because the dumb fuckers couldn't get off the ice berg, something about our computers turning into Y2K killers and destroying the Internet or what ever, and now a 15 trillion dollar economy can't afford to spend enough on my generation in our old age to keep us from murdering the worthless bastards in Washington ?

Want to bet!!!!

Boehner Scales Back Deficit Talks, Citing Tax Increases - NYTimes.com

The decision was a major reversal for Mr. Boehner, a veteran Congressional deal-maker who along with Mr. Obama had been the major advocate for seeking a far-reaching deal that would have combined a debt limit increase with substantial spending cuts, significant changes in social programs like Medicare, Medicaid and perhaps Social Security, and as much as $1 trillion in new revenues. Following a secret meeting between the two last weekend, Mr. Obama went public with his own call for a broad package.

The White House, in its own statement, followed Mr. Boehner’s announcement with the suggestion that the president would try to change Mr. Boehner’s mind in their Sunday session.

“Both parties have made real progress thus far, and to back off now will not only fail to solve our fiscal challenge, it will confirm the cynicism people have about politics in Washington,” Dan Pfeiffer, the White House communications director, said. “The president believes that now is the moment to rise above that cynicism and show the American people that we can still do big things. And so tomorrow, he will make the case to Congressional leaders that we must reject the politics of least resistance and take on this critical challenge.”

But the prospect of getting the bulk of his own Republican majority behind a $4 trillion, 10-year agreement was looming as a very heavy political and policy lift for the speaker who is still in his first year in the position.

Let's see...

We elect Oba mama to the Presidency because he was black, not older than dirt and not Hillary. The guy didn't have a clue then and doesn't have a clue now on what to do.

Why are we surprised?

Just think.... If you were a supporter what has he done for you? Did he soak the rich?

No!

Did he pass socialised medicine the way he promised?

 No!

 Did he get us out of all those wars we can't win without taking out our oil supply?

No!

The following are his accomplishments in three years:

(I'm still looking.)

Pat Buchanan hits the nail on the head....

I bitched about selling our industrial base to foreign countries for over 20 years! I even voted for this guy because being a factory worker in the 70's and 80's I knew how a hard it was to do something else. If you were stuck with a high school diploma or less you would look forward to "gentile poverty " at best without a good paying factory job.

Millions of us were raising families and there was no way to get a college education or start a successful business and maintain a decent standard of living and not work at the plant.

But our jobs slowly then rapidly were shipped over seas and booze, drugs, and unemployment checks were all that was left as working class  America became known as "the rust belt".

Does anyone think it will ever change back? Or will we have to kill everyone on the planet just to eat?

Don't be surprised if that is all that's left to keep us going!

Manufacturing's dismal decade

.....far exceeding our trade deficit in crude oil. A decade of such deficits in manufactures has devastated the industrial states.

From December 2000 to December 2010, 22 states lost a third or more of their manufacturing jobs. Massachusetts, New York and Ohio lost 38 percent of their manufacturing jobs, New Jersey 39 percent, North Carolina 42 percent, Rhode Island 44 percent, Michigan 48 percent.

Political result: Free-trader John McCain lost all seven, including the formerly "red" states of Ohio and North Carolina.

Trade in autos, trucks and parts, an industry in which America was dominant in the lifetime of many of us, tells the story.

Last year, the United States ran a trade deficit in autos, trucks and parts of $110 billion. The deficits with Germany, Japan, South Korea and Mexico account for that entire total.

Consider South Korea. Though she has an economy one-fifteenth the size of ours, she exported to us 12 times the dollar volume of trucks, cars and parts that we exported to her.

Rather than make a free-trade agreement with South Korea, why not tell our friends in Seoul: We are tired of arguing with you folks about opening your markets to our goods. Since you folks buy less than $1 billion in autos, etc., from us, while you sell almost $12 billion in your cars and trucks to us, you keep your market. We're taking back ours.

Now what?....

Depressions are a bitch.

Want to end it at least until another bust ? Send us a check! You have to stimulate demand. Give me enough money to pay my car off and I'll buy a house and then a new car. So give me some big spending money.

 In the next boom housing will double in price as 2 million new households a year look for a place to live. And few new houses are being built. So you have to stimulate this demand. Who is going to build a house when we can't afford to buy?

Remember, broke dicks can't buy shit even if they want to. And everybody wants to! So send us a big check!

But what you'll get is more bullshit about deficits and tax increases which slaughter the business community and scare the beJesus out of them.

Oh yea, it's all Bush's fault!!!

Jesus, what a mess...

People who invested in war....

Are rich beyond their dreams! Always count on it. War is a good like any other.More money is used to encourage it, maintain it  and continue it.

 And it's good politics. Worked for Bush jr. and now look at Caesar  Oba mama!

Because of this little piece of reality no one can cut spending in Washington even if they were serious. Can't cut anything but "discretionary items" and that means the Pentagon.

 Yea, right!

Oba mama needs to stick it to the Republicans because they have to defend the military-industrial complex and Oba mama will defend the voters against the meanies on the right.

Guess who wins!

THREE TITLES [3] for the PRICE OF ONE.

WAR is a racket. It always has been.

It is possibly the oldest, easily the most profitable, surely the most vicious. It is the only one international in scope. It is the only one in which the profits are reckoned in dollars and the losses in lives.

A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small "inside" group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.

In the World War [I] a mere handful garnered the profits of the conflict. At least 21,000 new millionaires and billionaires were made in the United States during the World War. That many admitted their huge blood gains in their income tax returns. How many other war millionaires falsified their tax returns no one knows.

How many of these war millionaires shouldered a rifle? How many of them dug a trench? How many of them knew what it meant to go hungry in a rat-infested dug-out? How many of them spent sleepless, frightened nights, ducking shells and shrapnel and machine gun bullets? How many of them parried a bayonet thrust of an enemy? How many of them were wounded or killed in battle?

Out of war nations acquire additional territory, if they are victorious. They just take it. This newly acquired territory promptly is exploited by the few – the selfsame few who wrung dollars out of blood in the war. The general public shoulders the bill.

And what is this bill?

This bill renders a horrible accounting. Newly placed gravestones. Mangled bodies. Shattered minds. Broken hearts and homes. Economic instability. Depression and all its attendant miseries. Back-breaking taxation for generations and generations.

For a great many years, as a soldier, I had a suspicion that war was a racket; not until I retired to civil life did I fully realize it. Now that I see the international war clouds gathering, as they are today, I must face it and speak out.

Again they are choosing sides. France and Russia met and agreed to stand side by side. Italy and Austria hurried to make a similar agreement. Poland and Germany cast sheep's eyes at each other, forgetting for the nonce [one unique occasion], their dispute over the Polish Corridor.

The assassination of King Alexander of Jugoslavia [Yugoslavia] complicated matters. Jugoslavia and Hungary, long bitter enemies, were almost at each other's throats. Italy was ready to jump in. But France was waiting. So was Czechoslovakia. All of them are looking ahead to war. Not the people – not those who fight and pay and die – only those who foment wars and remain safely at home to profit.

There are 40,000,000 men under arms in the world today, and our statesmen and diplomats have the temerity to say that war is not in the making.

Still think we don't control the world's oil?

Don't worry Oba mama doesn't have a clue on creating jobs but he does have killing people figured out.

 Just blame it on Bush!

Anyways, all the smart money is overseas and buying commodities because this guy is seen as a nitwit. Clueless is being polite. Chasing people around in the deserts is not working. Creating jobs by stealing money from Social Security is not working. Waving a magic wand and creating money out of thin air is not working

Bringing back Jimmy Carter"s policies, for Christ's sake. back is not working.

Leave the Middle East alone and drill here will work!

I'm off for the holiday see you next week!

New Statesman - Obama’s empire

In December 2008, shortly before being sworn in as the 44th president of the United States, Barack Obama pledged his belief that, "to ensure prosperity here at home and peace abroad", it was vital to maintain "the strongest military on the planet". Unveiling his national security team, including George Bush's defence secretary, Robert Gates, he said: "We also agree the strength of our military has to be combined with the wisdom and force of diplomacy, and that we are going to be committed to rebuilding and restrengthening alliances around the world to advance American interests and American security."

Unfortunately, many of the Obama administration's diplomatic efforts are being directed towards maintaining and garnering new access for the US military across the globe. US military officials, through their Korean proxies, have completed the eviction of resistant rice farmers from their land around Camp Humphreys, South Korea, for its expansion (including a new 18-hole golf course); they are busily making back-room deals with officials in the Northern Mariana Islands to gain the use of the Pacific islands there for bombing and training purposes; and they are scrambling to express support for a regime in Kyrgyzstan that has been implicated in the murder of its political opponents but whose Manas Airbase, used to stage US military actions in Afghanistan since 2001, Obama and the Pentagon consider crucial for the expanded war there.

Sounds good, doesn't it?.....

But who's going to collect the taxes? Not the Greek government, They haven't collect half or so of the taxes from the last bailout, LOL!

We'll be hearing more in a few months of other European governments entering bankruptcy and needing a bailout. Ok don't think for a minute Greece wont be one of them!

The Coming Depression: Greece pulls back from the brink

By Kerin Hope and Ralph Atkins in Athens

Greece has pulled back from the brink of default and averted a broader eurozone crisis after backing sweeping austerity measures in a knife-edge parliamentary vote.

George Papandreou, Greece’s socialist prime minister, won support on Wednesday for €28bn ($40.4bn) of tax increases and spending cuts, with just one of his party’s 155 parliamentary deputies voting against the package demanded by the European Union and International Monetary Fund.

Making money, of course......

Walmart gives it's customers what they want. They hire people at a set wage that the new hires agree to accept. They promote people on merit. Any woman who wanted a promotion had to earn it. Unfortunately for too many people, they couldn't measure up so they sue. By suing and winning they get a few bucks and the lawyers get millions. You and I pay for it in higher prices, lower stock values, and smaller bonuses for the rest of employees.

Now we know the real crime!

P.s a woman I know who used worked for Walmart joined a class action suit and won. She received a check for 25$.

 No, really. 25$ !

What Is Walmart's Crime? - William L. Anderson - Mises Daily

The Supreme Court's recent Walmart decision has stirred a hornet's nest at the New York Times. Indeed, what else can one expect from that paper but the belief that it would be a very good thing for lawyers and the government to loot one of the country's most successful businesses?

Yet, as I read an attack op-ed written by Nelson Lichtenstein, a professor of history at the University of California, Santa Barbara, I have to ask myself just what crime the NYT believes Walmart committed in the first place?

The charge was discrimination against women, and when feminists, racialists, and environmentalists make any charge against an American business, the NYT never fails to take their side in knee-jerk fashion. In fact, as the newspaper's editorial laments, the alleged actual damages to individuals were pretty small (maybe about $1,000), but claiming that all women who worked (or had worked) at Walmart after a certain year were victims of discrimination turned this whole thing into a multi-billion-dollar payout.

(Not surprisingly, the NYT's favorite class of lawyers, the plaintiffs' bar, would have had a small group of individuals receive hundreds of millions of dollars apiece while the women they represented wouldn't have got much at all. This is the NYT's version of "justice.")

And Blago proves it.....

Nothing changes in human nature. Power and corruption go hand in hand with big money, fast women and fame.

Add government muscle and look out!

I'm just surprised he was prosecuted. I guess embarrassing the Oba mama ain't cool!


'Government Is Just Another Criminal Gang' « LewRockwell.com Blog

Posted by Thomas DiLorenzo on June 27, 2011 07:23 PM

The Illinois Democratic Party is doing its best to prove this Rothbardian statement correct. The last two governors of Illinois are now convicted felons who are in prison. The Chicago Democratic Party political machine has long been regarded as the most corrupt political organization in America. They consider ACORN to be their "moral compass." Former Chairman of the House Ways and Means Committee, Danny Rostenkowski of Chicago, spent years in prison for theft, among other crimes. And of course all of these exact same people — Illinois Democrats — are now totally in control of the executive branch of the federal government. The worst DO rise to the top in government, as F.A. Hayek wrote in is classic book, The Road to Serfdom. Government is essentially organized theft, and the most proficient thieves, frauds, and liars naturally rise to the top. It's what an old friend called the "septic tank theory of government": The big chunks float to the top.
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Depend on the government leaders.....

There will be no cuts!

We will see only a slowing in the borrowing as it will prevent  the economy from disappearing. Soon as the Chinese come back into the market and buy us out of this political mess, and they will,  you have to wonder what it will cost us.

 Probably our empire. But not until the next big bust cleans out all the scum in Washington, right?

We have to remember that our government has been running deficits for 60-70 years and can do so for much longer because all world's economies depend on us to buy more of their shit then they buy of ours.

Besides, deficits are a political problem!

 Somebody has to lose and it ain't going to be pretty. And after the next bust, there will be more people bitching about deficits but still unable or refusing to vote for solving these deficits!

P.s we will always have deficits because that's how politicians can appease their constituencies and stay in power. (referred to as compromise and deal making in Washington.) Don't worry, our grandchildren will be bitching about deficits long after we are gone!

Gonzalo Lira: “Dream A Little Dream”: How Long Would It Take To Pay Off The U.S. Federal Government Debt?

How much would they have to cut, in order to pay off the national debt? And how long would it take, to retire that national debt in its entirety?

Well, in order to figure this out, first they’d have to get honest about exactly how much is the U.S. Federal government’s debt. (Honesty is a perverse side-effect of the Responsibility Bug and the Austerity Virus. Scientists are working feverishly to try to stop this honesty stuff.)

Total outstanding Treasury debt is $9.7 trillion—but that’s not the entire Federal government debt. To those $9.7 trillion, you have to add another $4.6 trillion, which corresponds to “intragovernmental holdings”—basically IOU’s or markers the Federal government has put in the famed “Social Security lockbox”.

Thus the total Federal government debt: $14.35 trillion.

That’s the number the Congress and President of our dreams has to close: $14.35 trillion. Or to be more precise: $14,344,491,791,132.71.

The current deficit is $1.65 trillion per year—but that bald number doesn’t help up much.

A better factoid would be knowing, How much revenue does the U.S. Federal government bring in per year, via taxes, fees and so on?

That would be $2.173 trillion, according to the OMB.

So let’s imagine that the Capitol Hill and the White House of our dreams agree to immediately cut all deficit-expenditures—that is, cut $1.65 trillion right off the top—and then they also agree to pay down the national debt on an “accelerated” schedule: Let’s say they set aside a third of all Federal revenue to pay down the Federal government debt. In other words, for every $3 of revenue the Federal government brings in, $2 will be for government services and operations, and another $1 will be for paying down the debt.

A third of $2.173 trillion is $724 billion.

So they start paying off the Federal government debt at this pace: $724 billion a year—a TARP per year. The Federal government “makes do” with just the two-thirds of its revenue, $1.45 trillion.

O.K.....We didn't need the jobs anyways.....

You can't make this shit up! And people wondered why I voted for pat Buchanan back in the '80's. You can't send your jobs overseas and expect to have a healthy economy.

This called 'hollowing out" and some of us told you so. By the way, how much money went into "campaign contributions" for this little plan, hmm?

 We are so fucked!

Bridge Comes to San Francisco, With Made-in-China Label - NYTimes.com

At a sprawling manufacturing complex here, hundreds of Chinese laborers are now completing work on the San Francisco-Oakland Bay Bridge.

Next month, the last four of more than two dozen giant steel modules — each with a roadbed segment about half the size of a football field — will be loaded onto a huge ship and transported 6,500 miles to Oakland. There, they will be assembled to fit into the eastern span of the new Bay Bridge.

The project is part of China’s continual move up the global economic value chain — from cheap toys to Apple iPads to commercial jetliners — as it aims to become the world’s civil engineer.

Manipulating elections is the norm.....

Nothing new in voter registration as dead people have voted every where there's elections. Of course, now days all you have to do is control the electronic programming and give one candidate the "benefit if doubt."

Soros and liberal groups seeking top election posts in battleground states - Washington Times

A small tax-exempt political group with ties to wealthy liberals like billionaire financier George Soros has quietly helped elect 11 reform-minded progressive Democrats as secretaries of state to oversee the election process in battleground states and keep Republican “political operatives from deciding who can vote and how those votes are counted.”

Known as the Secretary of State Project (SOSP), the organization was formed by liberal activists in 2006 to put Democrats in charge of state election offices, where key decisions often are made in close races on which ballots are counted and which are not.

The group’s website said it wants to stop Republicans from “manipulating” election results.

“Any serious commitment to wresting control of the country from the Republican Party must include removing their political operatives from deciding who can vote and whose votes will count,” the group said on its website, accusing some Republican secretaries of state of making “partisan decisions.”

SOSP has sought donations by describing the contributions as a “modest political investment” to elect “clean candidates” to the secretary of state posts.

Named after Section 527 of the Internal Revenue Code, so-called 527 political groups — such as SOSP — have no upper limit on contributions and no restrictions on who may contribute in seeking to influence the selection, nomination, election, appointment or defeat of candidates to federal, state or local public office. They generally are not regulated by the Federal Election Commission (FEC), creating a soft-money loophole

What an exercise in futility!.....

These clowns in Congress aren't serious. If you authorise the funds you are agreeing to the preposition that Oba mama can make war any time any place he wants.

Good thing he's not Bush, though! LOL.

House rebukes Obama on Libya, but lets funding continue - Washington Times

The House defeated two competing measures Friday that would have given President Obama differing levels of authority to continue the war in Libya, signaling a majority want to limit the president but that there is no consensus yet on how to do it.

Taken together, nearly 300 lawmakers voted against fully backing Mr. Obama — a devastating rejection of the president at a time when he has deployed troops overseas.

Yet those lawmakers were split between authorizing a limited support mission and wanting no involvement whatsoever, that division meant the House was unable to agree — essentially leaving Mr. Obama with a free hand to continue to fight the war as he wants.

“Congress today voted overwhelmingly against authorizing the war,” said Rep. Dennis J. Kucinich, an Ohio Democrat who has led anti-war forces in the House.

More lies......

We aint leaving. Just bringing troop levels back to 2009. Remember there's no money or votes in making peace!

Oh yea, Oba mama promised to bring troops home as soon as he was elected, remember?

Or was that re-elected?

Don’t Believe The Hype: Obama’s Af-Pak Troop Withdrawal Is A Propaganda Stunt | AmpedStatus

It is a positive development that the Obama Administration is withdrawing some troops from Afghanistan. However, Obama’s announcement of troop reductions is primarily a propaganda stunt. It is another perfect example of how the Obama Administration and the mainstream media manipulates public opinion and deceives the American public.

Headlines throughout the media are declaring: “Obama Announces Troop Withdrawal from Afghanistan” and “Obama to announce return of 30,000 troops from Afghanistan by end of next year.” All of this is designed to give you the impression that Obama is going to end the war, and give his re-election campaign a boast as well. As CBS News reported:

“President Obama’s ‘surge’ of 30,000 troops to Afghanistan announced in late 2009 was meant to be temporary, and Wednesday night the president is expected to announce that they will return home by around the time voters head to the polls to determine whether he gets another term.